Deal funds bankable feasibility resource, site investigation drilling
By Devika Patel
Knoxville, Tenn., July 13 - Crazy Horse Resources Inc. said it has priced a C$5.23 million non-brokered private placement of stock. The company raised C$5 million in a placement with Copper Development Corp. on July 6.
The company sold 6,973,975 common shares at C$0.75 apiece per share. The purchase price is a 1.32% discount to the July 12 closing share price of C$0.76. Copper Development will invest C$617,981 to maintain its 11.82% interest.
Proceeds will be used for the company's bankable feasibility resource and site investigation drilling, its pre-feasibility study costs and remaining working capital requirement for 2011.
Crazy Horse is a Vancouver, B.C.-based copper and gold exploration company.
| Issuer: | Crazy Horse Resources Inc.
|
| Issue: | Common stock
|
| Amount: | C$5,230,481
|
| Shares: | 6,973,975
|
| Price: | C$0.75
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Copper Development Corp. (for C$617,981)
|
| Pricing date: | July 13
|
| Stock price: | TSX Venture: CZH
|
| Stock price: | C$0.76 at close July 12
|
| Market capitalization: | C$40.71 million
|
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